Tuesday, December 31, 2013

Happy New Year!

In between ski trips and holiday parties, there are opportunities for the savvy real estate investor to make money!
There are currently 1358 residential properties listed for sale in Seattle on the NWMLS. 373 of these listings have been on the market more than 120 days, by which time you would expect sellers would be highly motivated to sell.

324 of these listings (173 single family houses) came onto the market within the past 30 days. Who puts their homes up for sale in December? Mostly people who HAVE to sell, for whom waiting is not an option. 31 of these are bank-owned, 74% of these in the south end of the city.

Of the 1358 properties currently on the market, 758 are single family houses and the rest are condominiums.

224 of the houses have been on the market for more than 120 days, with approximately half the properties north of I-90, and the other half south of I-90. The median list price of the unsold houses north of I-90 is $885,000. The median list price of the unsold houses south of I-90 is $345,000. Only five of these are bank-owned properties.

23 of the 104 houses south of I-90 that came on the market in the last 30 days are bank-owned.

There are 85 commercial properties currently listed on the NWMLS, including an established medical marijuana dispensary. Of these, 39 properties have been on the market more than 120 days. Their median price is $550,000.

These have got to be some of the most motivated sellers of listed properties on the NWMLS right now. So make some offers, before the end of the week! (My office is open for business!)

Happy New Year! and Happy Investing!

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